On January 1, 2020, Worldwide Manufacturing purchased a machine for $810,000 that it expected to have a useful life of four years. The company estimated that the residual value of the machine was $50,000. Worldwide Manufacturing used the machine for two years and sold it on January 1, 2022, for $350,000. As of December 31, 2021, the accumulated depreciation on the machine was $380,000. Read the requirements. BLOOD 1. Calculate the gain or loss on the sale of the machinery. (Use a minus sign or parentheses for a loss.) Gain or (loss) on the sale of the machinery

On January 1, 2020, Woridwide Manulacturng purchased a machine for 5810,000 that expecied to have a usetul Mo of four years. The compony es5mated that the residual value of the machine was $50,000. Worddwide Marufacturing used the machine for two years and sold it on Jenvacy 1, 2022, for $350,000. As of December 31 , 2021, the accumulated depreciasion on the machine was $380,000 Read the requrements 1. Calculate the gain or loss on the sale of the machinery. (Use a mikus sign or parentheses for a losi.) Gain or (loss) on the sale of the machinery